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PLEASE HELP ON QUESTIONS 1-10 I REALLY APPRECIATE THANK YOU Use the following to answer questions 1 6 Case 1 Case 2 Case 3 Case

PLEASE HELP ON QUESTIONS 1-10 I REALLY APPRECIATE THANK YOU

Use the following to answer questions 1 6

Case 1

Case 2

Case 3

Case 4

Beginning inventory

$15,000

$75,000

$46,500

?

Ending inventory

?

39,000

78,000

65,800

Purchases

365,000

?

685,000

751,000

Cost of goods sold

375,000

578,000

?

700,000

1. $____________ For case 1, determine goods available for sale

2. $____________For case 1, determine ending inventory

3. $____________For case 2, determine goods available for sale

4. $____________ For case 2, determine Purchases

5. $____________For case 3, determine cost of goods sold

6. $____________ For case 4, determine beginning inventory

Use the following to answer questions 7 17

During September, KM Company sells 9,500 watches for $320.00 each. The company has the following inventory purchase transactions for September:

Date

Transaction

# of Units

Unit cost

Total Cost

1-Sep

Beginning Inventory

700

$215.00

$150,500

7-Sep

Purchase

6,000

$216.00

1,296,000

24-Sep

Purchase

3,300

$220.00

726,000

10,000

$2,172,500

7. $____________What were companys sales for the period?

For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation.

8. $_____________Calculate ending inventory (FIFO)

9. $_____________Calculate cost of goods sold (FIFO)

10. $_____________ Calculate gross profit (FIFO)

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